Asian Cities Research

Savills Research & Consultancy aims to offer objective advice to clients in order to help them make well-informed real estate related decisions and realise pre-defined goals.

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Hong Kong Retail 2H 2016

 

Vertical retail or so-called “Ginza-style” retail is increasingly popular in Hong Kong with both landlords and tenants, but this retail format offers both unique challenges as well as advantages to investors and users.

 
 
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Beijing Retail 2H 2016

 

City-wide retail sales exceeded RMB1 trillion for the first time in 2015; however, the year-on-year (YoY) growth rate witnessed a slowdown during 1H/2016, registering only 3.8% growth and marking a historical low since 2006.

 
 
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Chengdu Office 2H 2016

 

The third G20 Finance Ministers and Central Bank Governors Meeting of 2016 was held in Chengdu on July 23 to 24, the first time any G20 conference was held in Midwestern China since the forum’s establishment. Successfully hosting the meeting has generated a new wave of interest in the city, which will help Chengdu further develop into a National Central City and international metropolis, accelerate the development of the tertiary industry, attract more tenants, and turn the city into China’s fourth largest financial centre.

 
 
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Guangzhou Residential 2H 2016

 

Guangzhou is the traditional commercial and trading centre of southern China, and has experienced steady economic growth, as well as property development, in recent years. Covering an area of 7434.4 sq km, it has a population of 13.50 million. The population density is 1816 per sq km, which is lower than both Shenzhen and Shanghai. As a result, the city enjoys a comparatively comfortable living environment.

 
 
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Shanghai Retail 2H 2016

 

The growing purchasing power of Chinese consumers combined with government initiatives encouraging domestic consumption and the services industry have helped the retail market grow. However, profits of brick and mortar retailers are becoming increasingly squeezed by the rise of e-commerce, which continues to enjoy strong government support.

 
 
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Shenzhen Residential 2H 2016

 

Shenzhen, China’s first Special Economic Zone, borders Hong Kong and is home to many migrants from across China. The city has been earmarked as an innovation hub in the 13th five-year plan.

 
 
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Tianjin Retail 2H 2016

 

The city’s economy continued to expand in 2015, with GDP registering approximately RMB1,654 billion, up 9.3% year-on-year (YoY), the fifth largest among all mainland cities. An outstanding economic performance helped the city become more appealing to both investors and migrant populations. By 2015, the city received more than five million migrants, who now represent the most significant driving force of consumption growth.

 
 
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Taiwan Hospitality 2H 2016

 

The number of inbound tourists broke the 10 million mark in 2015, with visitor numbers doubling in the past five years. 4.2 million of these tourists were from China, 40% of the total, still the largest group, despite a slower growth rate of 4.9% in 2015. According to the Tourism Bureau, Chinese visitors, who usually stay for seven nights in Taiwan, spent US$7.1 billion in 2015, accounting for 49.6% of total visitors’ expenditure. The increase in Chinese visitors boosts many sectors, especially hotels, tour companies, tour bus companies, restaurants and souvenir stores, especially those targetting group tours.

 
 
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Seoul Hospitality 2H 2016

 

From 2007 to 2014, the average annual increase in the number of foreign visitors to Korea was 12%. However, after the MERS outbreak in May 2015, the number of overseas tourists fell by 1 million compared to the previous year, totalling 13.2 million in 2015. In 2015, visitors from Asian countries accounted for 80% of all foreign visitors to Korea. By country, Chinese visitors represent 45% (6 million) of all visitors to Korea, followed by Japanese  at 14% (1.85 million). The Korean tourism industry shows a high level of dependency (about 60%) on tourists from China and Japan. In 1H/2016, total visitors reached 8.1 million, 61% of the total visitors in 2015, and this figure could reach 16 million by the end of the year.

 
 
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Seoul Logistics 2H 2016

 

This survey was conducted to better understand tenants’ logistics centre preferences. With the survey results, Savills subsequently analysed key considerations and requirements for occupiers.   Logistics tenants can be broadly categorised into either 3PL, manufacturing or retail. According to our survey, companies with a yearly sales volume exceeding KRW1 trillion, including Hyundai Logistics, CJ Korea Express and Hanjin Express, owned or leased more than 50 logistics centres each, whereas the other 90% of companies owned or leased less than 10.

 
 
 

Key contacts

Simon Smith

Simon Smith

Senior Director
Research & Consultancy

Savills Two Exchange Square

+852 2842 4573

 

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